09/09/2020 - Goldlogic, a leading investment firm in the mining sector, is pleased to announce the successful completion of a $5 million transaction with Soma Gold Corp, a public issuer renowned for its high-quality mining projects. This strategic investment follows a rigorous evaluation by Goldlogic’s technical and banking team, which validated the technical potential of Soma’s mining projects.
As part of the agreement, Goldlogic advanced US$4.5 million to Soma, which was utilized to complete the second tranche payment under the Share Purchase Agreement with Mineros S.A., ensuring Soma's 100% ownership of Operadora Mineras S.A.S. The remaining $500,000 will be used for general working capital and transaction costs (Junior Mining Network) (Observer Reporter).
This investment underscores Goldlogic’s commitment to fostering robust and lucrative mining ventures. Soma's ongoing projects in Antioquia, Colombia, including the La Ye, Mangos, and Balvina Cordero mines, are expected to repay the advance before the end of 2023 based on current production estimates. The high recovery rates and exceeding production forecasts further solidify the strong outlook for these projects (Junior Mining Network).
For more information about this transaction, please refer to Soma Gold Corp.’s recent announcement here.
About Goldlogic Goldlogic is a premier investment firm specializing in the mining industry. With a focus on strategic investments and comprehensive evaluations, Goldlogic aims to drive growth and profitability in the mining sector.
For inquiries, please contact:
Camilo Alvarez
E-mail: calvarez@goldlogic.com
Phone: +1 (281) 751-8975